Hello and welcome to AS USA’s live blog on inflation relief and other financial news.
On Thursday, the U.S. Treasury began taking “extraordinary measures“when the country reaches the debt limit, after which it is unable to borrow for make payments to programs like Social Security. The steps taken by Secretary Janet Yellen buy Congress time to reach an agreement on raising or suspending the debt ceiling.
Inflation has followed a downward trend, as has employment. In January, inflation increased by 0.1%, bringing the year-over-year price increase to 6.5%. Although prices are not falling, they are not rising at the same rate as in mid-2022. On the employment side, the jobless rate fell to 3.5% in December, another indicator that the labor market remains tight.
Most states have stopped issuing payments to support residents during this period of inflation. However, we will bring you the latest news on this front and all the other big news from Washington to Wall Street.